Despite the fact that he spent the majority of last season among Chelsea's substitutes, with Jose Mourinho often preferring the naturally right-footed Cesar Azpilicueta in Cole's position, Seaman has insisted that his former Arsenal teammate is "a quality player" that would "make a big difference" to any team that secures his signature.
"Ashley is a quality player, there is no doubt about that. When he was playing on a regular basis, he was the best left-back in the world. He's still got that quality, it's just that he's not played as much this season. Whether he leaves or not, I don't know, but Ashley knows what he wants and I'm sure Chelsea know what they want from Ashley," said the former England goalkeeper.
"He'd be a great signing for any club and it would be a great signing if he stayed at Chelsea. It's like Bacary Sagna, who looks like he might be leaving Arsenal. He'll go to another club and be a top signing for someone. It's just sometimes, certain situations happen where you are not needed at the club you are at, but you can still go to another big club and make a big difference. Ashley will do that because he will always be a great player."
A lack of regular match action is believed to be one of the major reasons as to why Roy Hodgson omitted Cole - a veteran of five major tournaments - from his 23-man squad for this summer's World Cup in Brazil.
However, with 107 caps to his name, Seaman believes that Cole should have been selected ahead of Southampton's 18-year-old Luke Shaw, who was picked by Hodgson as Leighton Baines's understudy having featured for the Three Lions on just one occasion.
"[A lack of playing time] is what has swayed Roy's decision not to take [Cole] because you cannot question his ability or his talent," Seaman added.
"I would have taken Ashley because even if Leighton Baines is going to be starting, if he gets injured, you know what you're going to get with Ashley coming on. He's not going to be nervous because he's got over 100 caps. With Luke Shaw, you don't know right now if he is going to be nervous or not."
David Seaman and top female freestyler Laura Biondo are working with Mini Babybel this summer, offering people the chance to win one of 15,000 free mini-footballs through their exciting on-pack promotion. Former England international David is encouraging families to get out and play football and be inspired by the skills demonstrated by Laura in the latest Babybel video. For more information visit www.babybel.co.uk